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1. The threat from substitutes is high when: a.Switching costs are high b.The substitutes are very similar c.Quality of substitute is lower d.Price of the substitute is similar

1. The threat from substitutes is high when: a.Switching costs are high b.The substitutes are very similar c.Quality of substitute is lower d.Price of the substitute is similar

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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1. The threat from substitutes is high when:

a.Switching costs are high

b.The substitutes are very similar

c.Quality of substitute is lower

d.Price of the substitute is similar

2..The starting point of scenario planning is the:

a.Vision Statement

b.Strategic Goal

c.Key Focal Issue

d.Scenario

3.In scenario planning, driving forces may be identified by:

a.Interview with key stakeholder

b.Porter’s Five Forces analysis

c.STEEP analysis

d.All of the foregoing

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